Target-Date Funds (TDFs) facilitate retirement planning by varying asset allocation over time with the goal of reducing portfolio risk. We explore potential agency problems in TDFs by examining their return performance and flow-performance relation. We find that TDFs under-perform balanced funds (BFs) which are also approved as a default option along with TDFs in 401(k) plans with automatic enrollment. We show that the under-performance is driven by TDFs that have a fund-of-fund structure and constituent funds with high expense ratios or poor performance within the fund family. Additionally, we discover an absence of flow-performance relation in TDFs while BFs exhibit the convex flow-performance relation shown for mutual funds. Our evidence suggests the presence of agency problems in TDFs arising from investor inertia, weak incentives for fund managers to outperform peers, and opportunities for fund families to gain private benefits.

Baigiamajame magistro darbe pateikiama bendra migracijos ir migracijos priežasčių klasifikacija. Šiame darbe atliktas 2001-2009 metų migracijos rodiklių dinamikos retrospektyvos tyrimas. Baigiamajame magistro darbe atliktas gyventojų emigracijos iš Lietuvos priežasčių į traukos šalis (Airijos, Danijos, Norvegijos, Jungtinių Valstijų, Jungtinės Karalystės, Vokietijos, Ispanijos, Švedijos) tyrimas. Darbe ištirtas ryšys tarp Lietuvos migracijos proceso ir Lietuvoje gyvenančiųjų skaičiaus, socialinės pašalpos gavėjų skaičiaus, nedarbo lygio ir BVP Lietuvoje. Baigiamajame magistro darbe atliktas gyventojų migracijos perspektyvos tyrimas. Darbe iš dalies patvirtinama autorės suformuluota mokslinio tyrimo hipotezė, kad daugiausiai migruoja vidutinio, darbingo amžiaus gyventojai. / The article presents general overview of migration and migration causes classification. In this work there are carried out analysis of the 2001-2009 years migration indicators dynamic. There are carried out the analysis of the emigration reasons from Lithuania to the pull countries (Ireland, Denmark, Norway, the United States, United Kingdom, Germany, Spain, and Sweden) in the article. The thesis investigates the relationship between Lithuanian migration process and number of recipients, of social benefits, unemployment and the GDP in Lithuania. Also, the thesis presents the analysis of the prospects of population migration. The work approves the author’s formulated research hypothesis that migrate the average, working-age people.

The O-acetylation of peptidoglycan (PG) is currently known to occur in greater than 50 eubacterial species, including numerous pathogens. This modification, which occurs at the C-6 hydroxyl of the N-acetylmuramoyl residues within the heteropolymer’s glycan backbone, serves as a cell wall autolytic regulatory mechanism, and contributes to pathogenesis and persistence within a host. Despite these significant physiological and pathobiological roles however, the identity of the pathway(s) responsible for the modification was only recently elucidated, for which two unrelated systems were identified, viz., the O-acetylpeptidoglycan (OAP) cluster-encoded multi-component system typical of Gram-negative species and the singular OatA of Gram-positives. As part of the OAP PG O-acetylation system, our group previously identified O-acetylpeptidoglycan esterase (Ape) as an enzyme responsible for the removal of the modification, permitting the continued metabolism of the PG sacculus. Herein, studies were performed to assess the postulated viability of this class of enzyme as a novel antibacterial target. Specifically, recombinant Ape1 from Neisseria gonorrhoeae was purified to homogeneity and the inhibitory effect of purpurin, a natural product identified as such, evaluated in detail. Kinetic analysis demonstrated that the compound elicited a competitive mode of inhibition (Kic ~3.7 μM), while the in vivo treatment of an array of environmental and pathogenic species was found to result in growth arrest for those cells containing both O-acetylPG and Ape. Evaluation of modification levels, cell wall morphology, and viability indicated a bacteriostatic effect. Taken together these data provide proof of principle that this class of enzyme presents a worthy therapeutic target. In addition to the presence of an Ape, the OAP system further differs from that of OatA through the use of two PG O-acetyltransferases. While purported to be mutually exclusive and evolutionarily divergent, in silico genomic analyses indicated their potential copresence in Bacillus anthracis and other closely related organisms. Indeed, purpurin-mediated differential growth inhibition between several such isolates and other bacilli indicated Ape activity therein. To investigate this possibility, the hypothetical Ape3 protein from Bacillus cereus ATCC 10987 was overproduced, purified, and its function assessed. Data from activity assays involving natural and synthetic substrates indicated that the protein possesses basal esterase activity in vitro. Phenotypic analysis of B. anthracis mutants deficient in each of the organism’s putative integral membrane PG O-acetyltranslocases subsequently indicated that Ape3 preferentially functions as a PG O-acetyltransferase (Pat) in vivo and that the OAP-mediated system is required for the separation of daughter cells following division. In addition, the presence of an Oat homologue was also confirmed. Thus, this is the first report of a bacterium known to possess both types of PG O-acetylation systems. / Natural Sciences and Engineering Research Council of Canada (NSERC)

The human visual system has learned to assume that light originates from above, most likely because of the persistent natural overhead light source – the sun (Ramachandran, 1988). Asymmetries of perception in neurologically normal individuals, like assuming light is coming from above, in part result from efficiency measures of the visual system. Not only is light assumed to come from above, but light from above and to the left has been found to decrease reaction times in target finding as well as increase aesthetic preference (Sun & Perona, 1998; Smith & Elias, 2013). The underlying cause of the bias towards upper-left lighting is debated, and may have a relationship with another peculiar phenomenon in neurologically normal individuals where greater attention is paid to leftward space, called pseudoneglect (Bowers & Heilman, 1980). Alternatively, an explanation suggesting that directional reading influences lighting preferences has been proposed, as Smith and Elias (2013) found native right-to-left readers to be significantly different from leftward biased left-to-right readers. The current set of experiments used eye-tracking and a target finding paradigm to assess differences between left-to-right and right-to-left readers. Manipulating the position of the light illuminating a field of spheres generated targets, creating either 1 convex bubble among 15 concave depressions, or vice-versa. Results from these studies are mixed, and highlight differences between both upper and lower and lateral visual space. Light originating from above facilitated shorter average duration times for both groups, whereas left-to-right readers tended to prefer light from the upper-left, while right-to-left readers preferred light from the upper-right. No one target location in the array facilitated shorter average duration times for right-to-left readers, although left-to-right readers tended to exhibit shorter durations when identifying targets in the upper-left quadrant. Participants spent the greatest amount of time examining the upper quadrants of the array, tending to focus more on the side of the image that their native reading direction begins on. The influence of directional reading on light source perception, and the potential problems of using exclusively Western participant samples are discussed.

Successful tracking of a mobile target with a sensor network requires effective answers to the challenges of uncertainty in the measured data, small latency in acquiring and reporting the tracking information, and compliance with the stringent constraints imposed by the scarce resources available on each sensor node: limited available power, restricted availability of the inter-node communication links, relatively moderate computational power. This thesis introduces the architecture of a hierarchical, self-organizing, two-tier, mission-specific sensor network, composed of sensors and routers, to track the trajectory and velocity of a single mobile target in a two-dimensional convex sensor field. A query-driven approach is proposed to input configuration parameters to the network, which allow sensors to self-configure into regions, and routers into tree-like structures, with the common goal of sensing and tracking the target in an energy-aware manner, and communicating this tracking data to a base station node incurring low-overhead responses, respectively. The proposed algorithms to define and organize the sensor regions, establish the data routing scheme, and create the data stream representing the real-time location/velocity of a target, are heuristic, distributed, and represent localized node collaborations. Node behaviours have been modeled using state diagrams and inter-node collaborations have been designed using straightforward messaging schemes. This work has attempted to establish that by using a query-driven approach to track a target, high-level knowledge can be injected to the sensor network self-organization processes and its following operation, which allows the implementation of an energy-efficient, low-overhead tracking scheme. The resulting system, although built upon simple components and interactions, is complex in extension, and not directly available for exact evaluation. However, it provides intuitively advantageous behaviours. / Thesis (Master, Computing) -- Queen's University, 2009-03-04 11:18:14.392

In this thesis we directly consider an object tracking problem for wireless sensor networks (WSNs), called track persistence. Track persistence temporally extends the problem of object tracking by seeking to store and retrieve the entire history of an object. To provide an initial solution to track persistence, we develop two distinct algorithms. The first algorithm, update to sink, translates track persistence into a centralized problem. The second algorithm, a linked list-like algorithm, builds a dynamic data structure as the object traverses the network, and rebuilds the object history distributively upon demand. We conduct worst case analysis upon both of these algorithms. Finally, we implement a simulation environment and run a number of tests upon both algorithms. Track persistence is a very challenging problem, and this thesis contributes a pair of solutions which stand as a basis for future research. / Thesis (Master, Computing) -- Queen's University, 2010-09-09 12:56:50.921

Since World War I, the area of acoustic undersea warfare has witnessed several research activities targeting the development of advanced systems to accurately detect and localize underwater moving targets. One of the main categories of these systems is the passive sound navigation and ranging (SONAR) that searches for the location of the ships and submarines by listening to the radiated noise produced by their propellers, machinery, and flow dynamics. The performance of the passive sonar highly depends on the particular array signal processing algorithms used in practice. Presently, one of the main challenges is to accurately estimate the target direction of arrival (DOA) in severe underwater environments. This thesis is proposed to enhance the DOA estimation in two distinct applications. This first application is to improve the spatial resolution of the uniform linear towed arrays. This is done by applying new spatial extrapolation techniques called 2D- and 3D- fast orthogonal search (FOS) for both uniform linear and rectangular arrays, respectively. The presented methods show better performance than the conventional methods with respect to signal to noise ratio (SNR), number of snapshots and angular separation. Moreover it reduces the computational complexity required by the spatial extrapolation methods based on linear prediction approach. The other application concerns with developing a new DOA estimation that provides better spatial spectrum than the one provided by conventional beamforming (CBF) when a nonuniform linear array of directional frequency analysis and recording (DIFAR) sonobuoys is employed. The introduced technique or the so called fourth order cumulant beamforming (FOCBF) and shows an outstanding performance compared to CBF especially in low SNR. Furthermore, a warping FOC-BF (WFOC-BF) method obtained by augmenting a warping beamforming technique with FOC-BF is proposed to reduce the required computational complexity by FOC-BF while preserving the same performance. / Thesis (Ph.D, Electrical & Computer Engineering) -- Queen's University, 2012-06-27 14:59:33.941

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The problem considered in this thesis is the development of an autonomous prototype robot capable of gathering sensory information from its environment allowing it to provide feedback on the condition of specific targets to aid in maintenance of hydro equipment. The context for the solution to this problem is based on the power grid environment operated by the local hydro utility. The intent is to monitor power line structures by travelling along skywire located at the top of towers, providing a view of everything beneath it including, for example, insulators, conductors, and towers. The contribution of this thesis is a novel robot design with the potential to prevent hazardous situations and the use of rough coverage feedback modified reinforcement learning algorithms to establish behaviours.